A number of New Gold Targets Recognized at Yundamindra

The will increase mirror the addition of 25 new drill holes to the 2023 mineral useful resource estimate throughout the southernmost portion of the orebody, instantly adjoining to the Goldrush undertaking at Cortez which is a part of the Nevada Gold Mines three way partnership (NGM).

Speaking today at Barrick’s Investor Day in New York , president and chief govt Mark Bristow mentioned that the Fourmile undertaking was a really world-class asset and may very well be in comparison with the unique Goldstrike deposit, the foundational asset of Barrick which is now a part of NGM’s Carlin.

“Our technique of investing in natural progress via exploration and mineral useful resource administration has set us other than the {industry}. We imagine in creating actual worth via discovery and improvement slightly than counting on a rise within the gold price to justify high-premium mergers and acquisitions,” he mentioned.

“For the reason that formation of the NGM three way partnership in 2019, we have now added greater than 19Moz of confirmed and possible mineral reserves to the lifetime of mine plan on a 100% foundation ² . This doesn’t but mirror the extra exploration upside that we see at present, together with Higher Leeville and Hanson in Cortez Underground,” mentioned Bristow.

Mineral useful resource administration and analysis govt Simon Bottoms added that the up to date mineral useful resource estimate for Fourmile solely covers roughly one-third of the general orebody as outlined by drilling to this point.

“For instance the potential worth {that a} really world-class orebody like Fourmile has, we have now accomplished a preliminary economic assessment utilizing conservative mining charges and prices, all of which draw instantly from the present Goldrush mine plan. The outcomes spotlight the potential for annual working money flows ensuing from Fourmile to be greater than 70% increased than the already world-class Goldrush undertaking ³ . For the following stage of the undertaking, we plan to begin a three-year prefeasibility study in 2025, which is not going to solely proceed to outline substantial sources and reserves throughout the whole orebody from floor drilling, whereas the northern Bullion Hill entry is permitted and developed, however will even undertake pilot autoclave and roaster take a look at work,” Bottoms mentioned.

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Technical Info

The scientific and technical info contained on this press launch has been reviewed and permitted by Craig Fiddes, SME-RM, Lead, Useful resource Modeling, Nevada Gold Mines; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Useful resource Administration and Analysis Govt; John Steele, CIM, Metallurgy, Engineering and Capital Initiatives Govt; and Joel Holliday, FAusIMM, Govt Vice-President, Exploration—every a “Certified Particular person” as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives .

All mineral reserve and mineral useful resource estimates are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives . Except in any other case famous, such mineral reserve and mineral useful resource estimates are as of December 31, 2023 besides Fourmile, which is as of November 22, 2024.

Endnote 1

Estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities.

Endnote 2

Confirmed and possible reserve good points at Nevada Gold Mines calculated from cumulative web change in reserves from 12 months finish 2019 to 2023, as proven within the desk beneath (100% foundation):

1. Internet affect of the asset alternate of Lone Tree to i-80 Gold for the remaining 50% of South Arturo that NGM didn’t already personal.

Totals might not seem to sum appropriately because of rounding.

All estimates are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities.

^a Estimates as of December 31, 2019, until in any other case famous. Confirmed reserves of 160 million tonnes grading 4.24 g/t, representing 22 million ounces of gold, and Possible reserves of 410 million tonnes grading 2.02 g/t, representing 26 million ounces of gold. Conversions might not recalculate because of rounding.
^b Estimates as of December 31, 2020, until in any other case famous. Confirmed reserves of 150 million tonnes grading 4.23g/t, representing 21 million ounces of gold, and Possible reserves of 360 million tonnes grading 2.11g/t, representing 24 million ounces of gold. Conversions might not recalculate because of rounding.
^c Estimates as of December 31, 2021, until in any other case famous. Confirmed mineral reserves of 99 million tonnes grading 4.82g/t, representing 15 million ounces of gold, and Possible reserves of 420 million tonnes grading 2.58g/t, representing 35 million ounces of gold. Conversions might not recalculate because of rounding.
^d Estimates as of December 31, 2022, until in any other case famous. Confirmed mineral reserves of 83 million tonnes grading 5.24g/t, representing 14 million ounces of gold, and Possible reserves of 500 million tonnes grading 2.12g/t, representing 34 million ounces of gold. Conversions might not recalculate because of rounding.
^e Estimates as of December 31, 2023, until in any other case famous. Confirmed mineral reserves of 52 million tonnes grading 4.42g/t, representing 7.5 million ounces of gold, and Possible reserves of 530 million tonnes grading 2.35g/t, representing 40 million ounces of gold. Conversions might not recalculate because of rounding.

Endnote 3

Fourmile monetary metrics and manufacturing metrics are based mostly upon Barrick’s inner preliminary financial evaluation which is conceptual in nature as a result of it consists of inferred mineral sources which are thought of too speculative geologically to have the financial issues utilized to them that will allow them to be categorized as mineral reserves, and there’s no certainty that the preliminary financial evaluation will likely be realized. The preliminary financial evaluation for Fourmile is based mostly upon $1,900/oz mineable stope optimizer. The assumptions outlined inside the preliminary financial evaluation have fashioned the premise for the continuing examine and are made by a Certified Particular person. Fourmile is at the moment 100% owned by Barrick. As beforehand disclosed, Barrick anticipates Fourmile being contributed to the Nevada Gold Mines three way partnership, at truthful market worth, if sure standards are met.

Mineral Reserves and Assets Endnotes

1. Mineral reserves (“reserves”) and mineral sources (“sources”) have been estimated as at December 31, 2023 besides Fourmile, which is as of November 22, 2024, (until in any other case famous) in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) as required by Canadian securities regulatory authorities. For United States reporting functions, the SEC has adopted amendments to its disclosure guidelines to modernize the mineral property disclosure necessities for issuers whose securities are registered with the SEC underneath the Securities and Trade Act of 1934, as amended (the “Trade Act”). These amendments turned efficient February 25, 2019 (the “SEC Modernization Guidelines”) with compliance required for the primary fiscal 12 months starting on or after January 1, 2021. The SEC Modernization Guidelines change the historic property disclosure necessities for mining registrants that have been included in SEC Trade Information 7, which was rescinded from and after the required compliance date of the SEC Modernization Guidelines. Because of the adoption of the SEC Modernization Guidelines, the SEC now acknowledges estimates of “measured”, “indicated” and “inferred” mineral sources. As well as, the SEC has amended its definitions of “confirmed mineral reserves” and “possible mineral reserves” to be considerably much like the corresponding Canadian Institute of Mining, Metallurgy and Petroleum definitions, as required by NI 43-101. U.S. traders ought to perceive that “inferred” mineral sources have a large amount of uncertainty as to their existence and nice uncertainty as to their financial and authorized feasibility. As well as, U.S. traders are cautioned to not assume that any half or all of Barrick’s mineral sources represent or will likely be transformed into reserves. Mineral useful resource and mineral reserve estimations have been ready by staff of Barrick, its three way partnership companions or its three way partnership working corporations, as relevant, underneath the supervision Craig Fiddes, Lead, Useful resource Modeling, Nevada Gold Mines and reviewed by Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Useful resource Administration and Analysis Govt. Barrick’s regular knowledge verification procedures have been employed in reference to the calculations. Verification procedures embrace industry-standard high quality management practices. Assets have been estimated utilizing various cut-off grades, relying on each the kind of mine or undertaking, its maturity and ore sorts at every property.
2. All mineral useful resource and mineral reserve estimates of tonnes andAu oz are reported to the second vital digit.
3. For 2024, Fourmile mineral sources have been estimated based mostly on an assumed gold worth of US$1,900 per ounce, and long-term common alternate charges of 1.30 CAD/US$. For 2023, mineral sources have been estimated based mostly on an assumed gold worth of US$1,700 per ounce, and long-term common alternate charges of 1.30 CAD/US$.
4. All mineral sources are reported inclusive of mineral reserves.
5. Mineral sources which aren’t mineral reserves should not have demonstrated financial viability.
6. All measured and indicated mineral useful resource estimates of grade and all confirmed and possible mineral reserve estimates of grade are reported to 2 decimal locations.
7. All inferred mineral useful resource estimates of grade for Au g/t, Ag g/t and Cu % are reported to 1 decimal place.

Cautionary Assertion on Ahead-Trying Info

Sure info contained or included by reference on this press launch, together with any info as to our technique, tasks, plans, or future monetary or working efficiency, constitutes “forward-looking statements”. All statements, aside from statements of historic truth, are forward-looking statements. The phrases “progress”, “proceed”, “goal”, “ramp up”, “potential”, “undertaking”, and comparable expressions establish forward-looking statements. Specifically, this press launch comprises forward-looking statements together with, with out limitation, with respect to: Barrick’s forward-looking manufacturing steering, together with our ten-year outlook for gold and copper and anticipated manufacturing progress from Barrick’s natural undertaking pipeline and reserve alternative; our anticipated progress with respect to our progress tasks, together with our mine extension tasks at Leeville and the Pipeline area and the ramp up at Goldrush; our exploration technique; the potential for Fourmile to turn out to be a world-class asset and anticipated annual working money flows from the undertaking; Barrick’s sustainability technique; and expectations, relating to future worth assumptions, monetary efficiency and different outlooks or steering.

Ahead-looking statements are essentially based mostly upon various estimates and assumptions together with materials estimates and assumptions associated to the components set forth beneath that, whereas thought of affordable by the Firm as on the date of this press launch in gentle of administration’s expertise and notion of present circumstances and anticipated developments, are inherently topic to vital enterprise, financial, and aggressive uncertainties and contingencies. Identified and unknown components may trigger precise outcomes to vary materially from these projected within the forward-looking statements, and undue reliance shouldn’t be positioned on such statements and knowledge. Such components embrace, however are usually not restricted to: dangers referring to political instability in sure of the jurisdictions wherein Barrick operates; dangers related to tasks within the early phases of analysis and for which further engineering and different evaluation is required; fluctuations within the spot and ahead worth of gold, copper, or sure different commodities (resembling diesel gas, pure gasoline, and electrical energy); the speculative nature of mineral exploration and improvement; adjustments in mineral manufacturing efficiency, exploitation, and exploration successes; dangers related to working with companions in collectively managed property; adjustments in nationwide and native authorities laws, taxation, controls or rules and/ or adjustments within the administration of legal guidelines, insurance policies and practices; expropriation or nationalization of property and political or financial developments in Canada, the US, or the opposite jurisdictions wherein the Firm or its associates do or might keep on enterprise sooner or later; dangers associated to disruption of provide routes which can trigger delays in building and mining actions, together with disruptions within the provide of key mining inputs as a result of invasion of Ukraine by Russia and conflicts within the Center East; threat of loss because of acts of conflict, terrorism, sabotage and civil disturbances; dangers related to new ailments, epidemics and pandemics; litigation and authorized and administrative proceedings; worker relations together with lack of key staff; failure to acquire key licenses by governmental authorities; elevated prices and bodily and transition dangers associated to local weather change, together with excessive climate occasions, useful resource shortages, rising insurance policies and elevated rules associated to greenhouse gasoline emission ranges, vitality effectivity and reporting of dangers; and availability and elevated prices related to mining inputs and labor. As well as, there are dangers and hazards related to the enterprise of mineral exploration, improvement and mining, together with environmental hazards, industrial accidents, uncommon or sudden formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper focus losses (and the danger of insufficient insurance coverage, or incapability to acquire insurance coverage, to cowl these dangers).

Many of those uncertainties and contingencies can have an effect on our precise outcomes and will trigger precise outcomes to vary materially from these expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are usually not ensures of future efficiency. The entire forward-looking statements made on this press launch are certified by these cautionary statements. Particular reference is made to the latest Type 40-F/Annual Info Type on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of among the components underlying forward-looking statements and the dangers which will have an effect on Barrick’s capability to attain the expectations set forth within the forward-looking statements contained on this press launch.

Barrick disclaims any intention or obligation to replace or revise any forward-looking statements whether or not because of new info, future occasions or in any other case, besides as required by relevant regulation.